Fortinet stepped up its game around SASE by purchasing Opaq for $8 million to strengthen distributed network protection from data centers and branch offices to remote users and Internet of Things devices. The company also bought Panopta for $34 million to gain visibility into and automate management of components like servers, containers, applications, databases, virtual appliances and cloud infrastructure.
Fortinet introduced two ruggedized firewalls to bring SD-WAN to challenging operational environments or remote locations that aren’t controlled, accounting for factors such as ranging temperatures and vibrations or movement that can wreak havoc on IT gear. The company expects to ride its product innovation to 19 percent annual sales growth in 2020, with revenue surging to roughly $2.57 billion.
Fortinet has also increased its headcount by 17 percent over the past year to 7,807 people, with the most aggressive hiring occurring in the business development and sales departments. Wall Street has rewarded Sunnyvale, Calif.-based Fortinet for its investments, sending the company’s stock price up 14.7 percent thus far in 2020 to $128.36 per share on a valuation of $20.84 billion.